McEwen Inc. (NYSE/TSX: MUX) ("McEwen" or the "Company") announces that it and its wholly-owned subsidiaries Lexam VG Gold Inc. ("Lexam") and VG Holdings Inc. ("VG" and collectively with Lexam, the "McEwen Subsidiaries") have entered into a definitive asset purchase and sale agreement (the "APA") with Dome Mine Ltd. ("Dome"), a wholly-owned subsidiary of Discovery Mining Ltd. ("Discovery"), pursuant to which the McEwen Subsidiaries have agreed to sell to Dome all of the right, title and interest in and to (i) the Fuller property located in Timmins, Ontario, which is wholly owned by Lexam, (ii) Lexam's 60% interest in the Paymaster property located in Timmins, Ontario, which Lexam holds in joint venture with Dome, and (iii) a surface rights only parcel located in Timmins, Ontario, which is wholly owned by VG, for total consideration of US$55 million (the "Purchase Price").

The transaction will monetize non-core assets and provide McEwen with US$55 million of additional capital, which the Company plans to invest across its operations and development projects to support its goal of producing 250,000–300,000 gold equivalent ounces ("GEOs") annually by 2030 with minimal to no share dilution.